News | November 28, 2023

Nym Meets Growing Demand For Autonomous Medical Coding With Expansion Into Inpatient Care Settings

NEW YORK--(BUSINESS WIRE)--

Nym, a leader in autonomous medical coding, today announced that it has added new capabilities to its revenue cycle management (RCM) solution, enabling hospitals and health systems to automate medical coding for inpatient care. With an established footprint in outpatient settings such as emergency medicine, radiology, and outpatient surgery, Nym has taken the next step in its expansion and is now offering professional (Profee) coding for inpatient, observation, and skilled nursing facility encounters.

Profee coding is used to bill professional services rendered by a physician during a patient’s stay in an inpatient, observation, or skilled nursing facility setting. Typically, hospitals and health systems have a large volume of inpatient encounters that require profee coding, and, in today’s climate, limited coders to handle that volume. This combination of high coding volume and staffing shortages can increase the administrative burden for coders, drive higher costs, and potentially put healthcare organizations at risk of coding backlogs and delayed payments. For many inpatient providers, continuing to work in tandem with these challenges is unsustainable both operationally and financially.

“We’ve heard about the frustrations associated with manual inpatient profee coding and the need for better solutions from many of Nym’s customers. It's conversations like these that have driven us to prioritize inpatient coding for this next expansion of our engine’s capabilities,” said Or Peles, Nym’s CEO. “We are proud to be able to solve our customer’s most pressing challenges and are thrilled to bring our autonomous coding solution, which has consistently been delivering value in the outpatient setting, to inpatient care.”

Nym’s inpatient profee offering includes diagnosis coding, evaluation and management (E/M) coding, bedside procedures coding, modifiers, and provider attribution.

Leveraging clinical expertise, computational linguistics, and explainable AI, Nym’s engine deciphers physician notes in patient charts and accurately assigns ICD-10 and CPT codes for medical billing. Nym codes patient charts within seconds with over 95 percent accuracy and zero human intervention, enabling healthcare providers to optimize resource allocation and reduce coding costs, the risk of denials, and missed revenue. Additionally, the Nym engine is automatically updated as new guidelines are released, and it produces audit-ready, traceable documentation for every code it generates.

About Nym

Nym is the leader in transforming clinical language into actionable information, which can remove inefficiencies that add billions to the cost of care. By combining industry-leading technology with clinical expertise and a deep understanding of medical language, Nym is able to accurately decode medical charts in a way that is fast, explainable, and compliant. The Company’s innovative solution for revenue cycle management (RCM) takes provider notes within patient charts and translates them into accurate diagnostic and billing charge codes, all within a matter of seconds and with zero human intervention. Along with over 95% accuracy, Nym’s RCM solution delivers audit-ready, traceable documentation for every code it generates, ensuring total visibility into why each code was assigned. The Nym solution can be quickly deployed and scaled based on volume and workflow needs, easing administrative burdens and allowing clinical teams to spend more time focused on patient care.

Based in New York City with R&D capabilities in Tel Aviv, Nym is building an interdisciplinary team of specialists including technologists, physicians, mathematicians, computational linguists, engineers, medical coders and more. Investors in Nym include Addition, GV, Bessemer Venture Partners, Dynamic Loop Capital, Tiger Global, Zach Weinberg and Nat Turner. To learn more about Nym, visit nym.health.

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